By now all MS aspirants must have heard of a new field in Technology – Data Science. Data science as a Masters program is an option for MS aspirants to seriously consider! It has been dubbed as the fastest growing field with lots of opportunities for people who have the right skills.
According to Harvard Business Review, Data scientist is the sexiest job of 21st Century. While this is true up to some aspects, it is very necessary to know what you are getting into before deciding to follow the herd in the path of Data science. Data science, no doubt has immense opportunities but only for those who know what they are doing. Just having a certificate or a degree in a Data Science/Business Analysis program will not be enough to get you that coveted job.
Data Science is an amalgamation of Statistics, Computer Science, Mathematics and Business. Being a data scientist, you are expected to know the right statistical formulas to be applied to the right set of data which has been preprocessed correctly to give the expected insights with the limited resources (time and computing power) that you have at hand. After the insights are extracted, the management will expect the Analytics team to present them in an actionable form. This helps in decision making. If this sounds like fun, then read on to find out more about the field and programs.
Business Analytics / Data Science / Data Analytics / Big Data its all so confusing isn’t it?
Yes, these all terms may sound confusing if you are a newly excited person looking to make the best of this opportunity. So here’s what you need to know:
Throw away the hype words, figure out where you fit in among all this chaos and what role suits you the best. To simplfy it for you, there are two tracks in Data today that are the most important:
1. Analysis Data to derive insights
2. Managing Data to drive the analytics
The first field relates closely to the term Data science, as this involves analytics to analyse the data and find that hidden gems of information. This may be on a small dataset or a very large data of a multi-billion dollar enterprise. The focus is on analytics and data visualization.
The second one relates more closely to Big data, computer science as it involves a lot of programming logic and algorithms to store, preprocess and help the analytics team perform their analysis.
So, now that you have some overview of this exciting but challenging field. It is time to go ahead and look for the opportunities that you want to grab. We’ll be back in the next post with Highlights and a list of Universities that offer programs in this field! Till then keep reading HEB and don’t forget to Subscribe.